The Necessary Normative Context of Positive Economics

Abstract

In recent decades economists have in many significant ways refined and made more sophisticated their theoretical and empirical techniques. Concomitantly, economics has gained considerable acceptance in the media and government circles as an important basis for the development of politically acceptable, if not efficient, public policies.1 Proponents of social reform actively seek the counsel of economists in the development of their reform packages. These proponents (and their opposition) understand that the success or failure of proposed policy changes often, but not always, hinges on the findings of scholarly economic studies.

Keywords

Depression Mold Income Logical Positivism Defend

“Reality” is what we take to be true. What we take to be true is what we believe. What we believe is based upon our perceptions. What we perceive depends on what we look for. What we look for depends upon what we think. What we think depends upon what we perceive. What we believe determines what we take to be true. What we take to be true is our reality.